IMF warns banks to evolve or be 'left behind' amid competition from big tech firms

A new IMF paper published Monday said the two most common forms of money today, cash and bank deposits, will "face tough competition and could even be surpassed."

The IMF said policymakers should be prepared for "disruption" in the banking landscape from big tech companies and fintech start-ups.In this photo illustration, a visual representation of a digital cryptocurrency coin sits on display in front of a Facebook logo on June 17, 2019 in Paris, France.Banks must evolve or risk being "left behind" as big tech companies shake up the financial system, according to new research from the International Monetary Fund .

But banks are "unlikely to disappear" as they face growing threats from big tech companies and fintech start-ups, the paper said. "Some will be left behind no doubt," the authors wrote. "Others will evolve, but must do so quickly."

$BTC BOTHERED US ... we chose $XRP !!! Ryan Zagone explains why Proof of Work BITCOIN is useless for adoption. In the middle IMF’s Deputy General Counsel Ross Leckow! On the right side 2 bitcoin maximalist.

They all want to but there waiting for the fuckwit regulators to get there shit together.

$XRP IS THE WORLD'S BEST DIGITALASSETS CRYPTOCURRENCY FOR PAYMENTS SETTLEMENT diliprao Crypto business FoxBusiness crypto realDonaldTrump APompliano novogratz TimDraper $ETH $LTC DigitalAssets KimKardashian aoc PeterSchiff

They have been prepared for that since when an online-only bank and Paypal started their business, haven't they?

The banks will claim they financed the internet and try to get their hands into the pockets of the datacenters hashing transactions. Always wanting something for nothing.

renoirvieira

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